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MANILA - The Department of Justice (DOJ) on Thursday said there is no legal obstacle to the appointment of lawyer Raphael Lotilla as the country's new energy secretary. In a statement, the DOJ said it believes that his nomination as the Department of Energy (DOE) secretary is "valid and lawful" even as Lotilla served as an independent director of Aboitiz Power Corporation and Ace Enexor. "The position of the department is that the appointment should be valid given that an independent director does not fall within those prohibited by the Department of Energy Act of 1992,"...

Supreme Court (SC) Due to the influx of cases involving cybercrime, competition, and intellectual property, the Supreme Court has designated 77 more branches of the regional trial courts (RTCs) to act as special commercial courts (SCCs). With 77 more designated RTCs, there are now 147 SCCs spre

December 11, 2020 | 7:52 pm Font Size AAA AC Energy Philippines, Inc. said on Friday that it had received confirmation from the securities regulator that the Ayala Corp. unit’s proposed stock rights offering is exempt from the registration requirement of the securities code. The company is planning to offer up to 2,267,580,434 common shares at a price of P2.37 per share, it told the Philippine Stock Exchange. The offering consists of two rounds, and will be followed by a domestic institutional offer. The first round will be offered on a pre-emptive rights basis to eligible sharehol...